CBD Pet Market Industry Boom

In 2018 Nielsen reported that $33 billion was spent by American consumers for pet food and treats. 2018 also reported by Brightfield Group that sales of CBD pet products were up to $32 million while in 2017 they were only $8 million. A cannabis focused research firm has estimated that the market could reach up to 1.16 billion in the US by 2022.

CVS Pharmacy (NYSE:CVS) announced recently to sell hemp-derived CBD products in eight states. The national drug store chain will be marketing the topical cannabidiol products, such as creams, sprays and roll-ons. Also, drug-chain Walgreens Boots Alliance (NASDAQ:WBA) will sell CBD-based sprays, creams, and patches in 1,500 stores throughout nine states. Kroger (NYSE:KR) has recently entered into the CBD market as well.

Josh Mick is Editor-in-chief at All Finance Times, He enjoys his stint as an editor of several local magazines. He has written several editorials and high-level documentations. Josh Mick mostly covers All the topics & Have six years of experience, On free time Josh loves Playing guitar and reading.